return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 2 months agoWhy do Americans pretend they're not broke when most Americans are in debt?message-squaremessage-square205linkfedilinkarrow-up1452arrow-down138
arrow-up1414arrow-down1message-squareWhy do Americans pretend they're not broke when most Americans are in debt?return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 2 months agomessage-square205linkfedilink
minus-squareTikiporch@lemmy.worldlinkfedilinkarrow-up8·2 months agoIf you own a house or vehicle in the USA there’s a good chance you’re in debt.
minus-squareBronzebeard@lemmy.ziplinkfedilinkarrow-up1arrow-down1·2 months agoHaving debt is not the same as being in debt. In debt = your assets are worth less than your obligations. Having debt = you owe some money to people, but have the property to back up the debt in case something happens.
If you own a house or vehicle in the USA there’s a good chance you’re in debt.
Having debt is not the same as being in debt.
In debt = your assets are worth less than your obligations.
Having debt = you owe some money to people, but have the property to back up the debt in case something happens.